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Japan falls into recession

As exports around the world continue to come under pressure the Japanese government has announced that the country is officially in recession. Historically the country has been very active in exports to all parts of the world but as the worldwide economic downturn gathers pace there has been a sharp falloff in export levels.

This is a truly worrying sign for the Far East where the Japanese market is still a major player in the area and the focal point of many small economies. While the ongoing slowdown is a major concern there are also worries that the country may not be in a position to support the recovery in due course because of the short to medium term damage to the country's manufacturing and service industries.

Finally the worldwide slowdown has now taken in all areas of the world and unless governments are able to act together the short to medium term future is very uncertain to say the least. Associations such as the IMF have been paying out money on a regular basis of late and even this particular association is starting to run short of funding. They're now needs to be the beginning of a return on the many rescue packages instigated in recent times in order to replenish funds such as the IMF.

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